FICCI wants Income Tax rate to be reduced to 25%
FICCI wants Personal and corporate tax rates to be reduced to 25 percent and surcharge withdrawn, to boost up the demand and to accelerate expansion and diversification. It also wanted the interim budget to extend tax holiday to housing sector and exempt it from the service tax considering sluggish demand.
FICCI also expected Interest rate subvention or subsidy of 2 percent available to exporters up to 31st March, 2009 to be extended up to 31st March, 2010.
FICCI starts its Annual General Meeting tomorrow to be inaugurated by de facto PM Pranab Mukherjee. The top business tycoons of India are to listen to L K Advani, Sheila Dikshit, Omar Abdullah, Shivraj Singh Chouhan, Prem Chand Gupta, Minister for Corporate Affairs; M Damodaran, former Chairman, SEBI; T V Mohandas Pai, Director-Human Resources, Infosys; US Ambassador to India Mr David C Mulford and Dr Abhishek Singhvi, among others.
Mr Kamal Nath, Union Commerce Minister will address the Luncheon Session on 13th.
Harsh Pati Singhania , Managing Director, J K Paper will take over as the President of FICCI at the conclusion of the AGM.